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SourceBio Targets Boost In Virus Test Capacity Amid AIM IPO

Tue, 27th Oct 2020 19:03

(Alliance News) - Laboratory services and products provider SourceBio International PLC on Tuesday said it will raise GBP35.0 million in its AIM float.

SourceBio said it will place 21.6 million shares at 162 pence each. Liberum Capital Ltd is acting as nomad, broker and sole bookrunner.

"We are delighted by the strong support we've received from institutional investors. Our [initial public offering] on AIM allows us to significantly increase our Covid-19 testing capacity, accelerate earnings growth in our core business and execute on potential M&A opportunities. It's an exciting time for our business and we look forward to executing on our ambitious growth plans and delivering value to our shareholders," Executive Chair Jay LeCoque said.

SourceBio is targeting a market capitalisation of GBP120.2 million on admission.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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